Should I focus on paying debt or increasing income?

[Lordslayer97]

Would you rather have no debt or a higher income? Why?

 

[Nebulonixy]

Honestly, it’s a tough call for me. Right now, I don’t have any debt, but my income is low, and I’d rather take on a little debt for the chance at a higher income than stay where I am. But as the debt grows, the extra income doesn’t feel as helpful, and the kind of debt makes all the difference.

 

[June]

It depends on what type of debt. In general though would rather have higher income.

 

[pL4y3r85]

Both lol. Guess I'd choose higher income though

 

[Lumeekai]

no debt for sure... vs high income

 

[ShadowByte0]

I’m excited to share that my income has soared to an all time high up by an incredible 40% since the pandemic! On the flip side, I’m also navigating the largest amount of debt I’ve ever had. Let’s tackle this journey together you’ve got this!

 

[BurntRecluse]

Debt free a high income is higher tax bracket so you pay more taxes.

 

[Skydreamer101]

Higher income on the rise! I'm currently earning less, but with minimal debt holding me back. The future looks bright!

 

[VelazquezZero]

No debt here. I’m good with what I earn right now. I don’t owe anything right now. I’m staying in my caravan to save up for a house deposit. The only debt I’d ever consider is a mortgage.

 

[Polarsmasher20]

Higher income doesn't mean lower or no debt... Lifestyle creep is real for MANY people!

 

[FairyBurningStar]

Being debt free can actually boost your income. Think about it every dollar you’re not spending on debt payments can go straight into your savings.

 

[DarknekoCraft]

No debt is the move.
Barely made $60k before I retired.
I am a testament.
It's not what you make; it's what you do with it.

 

[ViralMuse123]

Higher income, to help pay down debt I had before my income was high lol